You have probably heard about “Single Touch Payroll”.  It is a reporting change for employers and is being introduced from 1 July, 2018.

Single Touch Payroll is a means of reporting employees’ salaries and wages, allowances, deductions (for example, workplace giving) and other payments, pay as you go (PAYG) withholding and superannuation information to the Australian Taxation Office.  It will eventually replace the current requirement of issuing annual PAYG payment summaries.

Single Touch Payroll is mandatory for all employers with 20 or more employees (subject to a headcount on 1 April, 2018) commencing from 1 July, 2018.

This commencement date may be subject to exemptions, depending upon software providers readiness to report and other matters.

Employers with fewer than 20 employees will have longer to transition with an expected commencement date of 1 July, 2019.

You can stay up to date and get further information regarding “Single Touch Payroll” by: –

• Talk to your software provider
• Visiting the ATO website at; www.ato.gov.au/singletouchpayroll
• Follow the ATO on Facebook, Twitter or Linkedin

We believe in maintaining professional business relationships with our clients. We are pleased to provide year-round service and assistance to help clients meet their individual needs. As circumstances change your accounting needs will change to. It is important to have access to caring staff who can assist you to navigate through the legal obligations and available options depending upon your own unique situation.

We enjoy assisting a variety of clients ranging from individuals meeting their annual obligations, small and medium sized businesses at various levels of trading, retirees looking to plan and make the most of their superannuation savings and start up enterprises and sole traders.

Our business is assisting you and our team are committed to providing the highest level of service where you get the benefit of our combined skills and experience.